Quote from: just_Alice on February 21, 2021, 10:35:23 PM

It is good that people in Venezuela have found a temporary solution for all that disaster they're currently struggling with. Using crypto gives them some freedom and the possibility to avoid giving their money to the government, while the latter keeps stealing it. And that is why, I think, none of the state-backed cryptos will work in Venezuela, for the same reason Petro didn't work. It's just the same old government, only trying to manipulate people and the local economy for their own good by means of self-made cryptocurrency, over which they have total control. I think, for now, the population will turn to Bitcoin as a lifesaver until this whole situation is resolved.

Almost the same mate, Venezuela is already known as a fragile enocomic country in the world. Their had natural resources like Oil but they couldn't use it in a proper way so that their economy became destructive. In this time, crypto can help them to store their money by them where government can't do anything. The country is still struggling with their fragile economy.